Investment Commentary

Biweekly Investment Bulletins

  • Get the Whole Story

    I recently watched a film on TV, one with a clever twist at the end.  I have seen it before, a few years ago, the only problem was I could not quite remember the ending – I expect I just nodded off towards the end!  But now the ending bugged me, and whilst the wonders of modern media meant I could h...

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  • Inflation, Interest rates and a good war……..

    James Maddison wrote in 1792 that:  “…each generation should be made to bear the burden of its own wars, instead of carrying them on, at the expense of other generations.” His comment could be aimed at any form of cross-generation debt.  The most common example of this is where governments borrow...

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  • Index Trackers – Universal Truths or Alternative Facts?

    Index tracking funds are often presented as a ‘universal truth’ about how investment markets work and how to invest.  In the present world of ‘alternative facts’ I have listed six features of index trackers that may surprise you: Stock market indices were originally created by the investmen...

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Monthly Market Commentary

  • MAY: Political developments dominate in April

    Politics took centre stage once again in April as investors took stock of President Trump’s first 100 days in office and the French Presidential elections moved towards their climax. In the UK, investors were startled by Prime Minister Theresa May’s decision to call a snap General Election in a move...

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  • APRIL: The UK begins the Brexit process

    March 2017 went down in history in the UK as Prime Minister Theresa May triggered Article 50 of the Lisbon Treaty and began the process of leaving the European Union. Meanwhile, the withdrawal of President Trump’s health care bill raised concerns that the US President might find it difficult to deli...

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  • MARCH: Increasingly hawkish language from the Federal Reserve

    Although US economic growth proved somewhat disappointing during the final quarter of 2016, Fed policymakers appear ready to increase interest rates as soon as it becomes appropriate; indeed, Fed Chair Janet Yellen warned that an unnecessary delay in tightening could prove “unwise”. Meanwhile, Europ...

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